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Tapulous, the company behind Tap Tap Revenge, has announced that the popular iPhone app will hit 1 million installs some time this weekend. The app is the second we’ve heard from to hit the milestone (Facebook reached it last week), and is another testament to the extremely rapid growth some applications have seen on Apple’s newly launched App Store.

Tapulous CEO Bart Decrem says that the application has been downloaded about 900 thousand times since its launch, and expects to hit the 1 million user milestone over the weekend. Tapulous’s iPhone Twitter client Twinkle is significantly less popular, with around 80,000 installs, but it was released after Tap Tap Revenge. Decrem notes that there is a total install base of about 5-6 million iPhones and iPod Touches running the 2.0 firmware (which is compatible with the App Store). With about 1 million downloads, this puts Tapulous applications on around 20% of all devices – a very impressive feat.

One of best features in the original version of the game (which was only available on hacked iPhones) was that users could create tab sheets and play the game with any song in their iPhone’s library. Unfortunately, Apple prohibits any developer from accessing the iPhone’s library with a native application, so Tapulous has been forced to come up with a different way to introduce new content to the game. For the time being they’re offering free downloads of new songs directly through the app, but these songs have all been submitted to the company by indie artists (impressively, 2.5 million songs have been downloaded so far).

As it turns out, a number of record labels have taken notice of Tap Tap Revenge’s quickly growing install base, and are eager to use it as a means of exposing users to new music. Decrem says that the company is in talks with both indie and more well known artists to create a premium package of songs, which will likely be released in the App Store as a separate game for a small fee. Subsequent packages will also likely be released as their own independent games, as Apple does not currently offer a way for developers to sell new content from within an application.

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OverviewTapulous is a developer of applications for the iPhone and Android platforms. Some of their apps include Tap Tap Revenge (the sequel to Tap Tap Revolution), Twinkle (a Twitter client) and Collage (a real-time collaborative photo sharing application) and the newly launched Riddim Ribbon.